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The Golden Horseshoe is a weekly designation from Just the News intended to highlight egregious examples of wasteful taxpayer spending by the government. The award is named for the horseshoe-shaped toilet seats for military airplanes that cost the Pentagon a whopping $640 each back in the 1980s.
This week, our award is going to the United States Congress for allocating nearly $170 million for emergency funding to be distributed among Ivy League universities, some with endowments larger than the total assets managed by some mid-size investment funds.
The most recent “coronavirus relief bill” cost just under $2 trillion, placing significant upward pressure on the already-skyrocketing national debt. The Biden administration’s opening salvo was criticized for being packed with spending only tenuously related to the pandemic, including $86 billion to bail out union pension funds and $1.5 billion for Amtrak (a pet cause of President Biden, dubbed “Amtrak Joe” during his Senate years for his daily rail commutes between Washington and his Wilmington, Del. home).
Last spring, American colleges and universities received $14 billion in funding from the CARES Act. In December, the same institutions received an additional $22.7 billion from the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA).
This time around, despite not hosting students on campus full-time for most of the last year, American universities received just under $40 billion in funding. These funds are being distributed across the 5,300 colleges and universities in the country. Some need it. Others have endowments so vast that it has been questioned why they charge tuition at all. (It turns out there are good answers to that question). In this case, American taxpayers are subsidizing (for the third time) some already wealthy institutions, many of which are receiving far more in government bailout funds than universities and colleges with more modest endowments.
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We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
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JD Rucker